I dropped cable in favor of free over-the-air HDTV years ago. There's lots of information on the Web on local station towers and frequencies, how to build your own antenna out of coathangers, etc. I eventually went the deluxe route with two antennas in the attic recorded on a dedicated HTPC, but I still saved money over cable+DVR in less than a year, plus I can watch Hulu, Youtube, etc. in the living room.

If you want a cell phone, you can give up your land line to save money.